Gang of 14 Credit Card Fraudsters Held By Cyberabad Police

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Gang of 14 Credit Card Fraudsters Held By Cyberabad Police

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Hyderabad:  With the arrest of 14 persons, the Cyberabad police claimed to have busted a gang in Hyderabad on tuesday which allegedly created fake PAN and voters' identification cards to get credit cards by defrauding banks.

Cyberabad Police Commissioner C V Anand said that police special operations team apprehended kingpin M Jagan Mohan Reddy, who is the prime accused in cheating banks to the tune of Rs 63.05 lakh.

Mr Reddy and his 13 accomplices were apprehended after 196 PAN cards, 199 voter identification cards and credit cards of different banks were seized, the police official said.

Allegedly, Mr Reddy created fictitious names, addresses, phone numbers, photographs of unknown persons, PAN cards and voter identity cards with an intension to cheat banks.

"The accused also created a fake Income Tax Returns-4 (ITR-4) form for a period of one year and applied for credit cards to various banks like HDFC, SBI, American Express as well as City Union Bank, using fake signatures," the police official said.

In collusion with sales executives of banks and field officers of private agencies, Mr Reddy allegedly got credit card applications approved without any of the addresses mentioned, being physically verified, by paying Rs 3,000 to Rs 5,000 per application.

Mr Reddy also colluded with courier service delivery boys to get credit cards delivered to him directly, by paying Rs 1,000 to Rs 1,500 for each card delivered to him, the police official said.


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